Economic Growth

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Economic Growth short run
an increase in real gdp
1 of 5
Economic Growth long run
an increase in productive capacity
2 of 5
Advantages of Economic Growth
Job creation, increase in wealth, income,investment. confidence positive multiplier effect
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Disadvantages of Economic Growth
income inequality, inflation, negative externalites, greater borrowing
4 of 5
Factors that shift LRAS
labour force increa
5 of 5

Other cards in this set

Card 2

Front

an increase in productive capacity

Back

Economic Growth long run

Card 3

Front

Job creation, increase in wealth, income,investment. confidence positive multiplier effect

Back

Preview of the back of card 3

Card 4

Front

income inequality, inflation, negative externalites, greater borrowing

Back

Preview of the back of card 4

Card 5

Front

labour force increa

Back

Preview of the back of card 5

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